Latest data shows that the total market capitalization of stablecoins in the cryptocurrency ecosystem has surpassed the milestone of 300 billion USD for the first time, setting a historical high. This significant breakthrough marks stablecoins as a key infrastructure in the digital asset space.

As of October 3, 2025, the market landscape of major stablecoins is as follows: USDT accounts for 58.4%, USDC for 24.6%, USDe for 4.9%, DAI for 1.7%, and others for 10%. It is worth noting that in the past month, USDC, USDT, and USDe grew by 2.7%, 5.6%, and 18.9%, respectively.
This significant growth can largely be attributed to the passage of the GENIUS Stablecoin Act in the United States (. The act provides a clear regulatory framework for the industry, boosting investor confidence and driving nearly a 20% growth in the stablecoin market in the short term.
In this round of growth, USDC issued by Circle has benefited from its compliance advantages and has seen an increase in market share. Meanwhile, USDT, which has long held a dominant position, is showing a trend of declining share.
As the regulatory environment becomes increasingly clear and large amounts of capital continue to flow in, stablecoins are rapidly expanding their influence in the cryptocurrency ecosystem. In the future, the competition between USDC and USDT will become the focus of market attention. This competition is not only about market share but will also shape the future development direction of the entire stablecoin sector.
With the continuous expansion of the stablecoin market, we can foresee that it will play an increasingly important role in areas such as cross-border payments and decentralized finance ) DeFi (. At the same time, central banks and regulatory agencies in various countries will also pay closer attention to the development of this field and may introduce more relevant policies. For investors and industry participants, closely monitoring regulatory trends and changes in market dynamics will become particularly important. )